Monthly Archives: February 2013

The new 2013 models are here, and while conventional wisdom would suggest holding out on buying until any kinks are worked out, a new study suggests that car shoppers might want to buy now.

The study, which was conducted by J.D. Power and Associates, found that customers had fewer problems with vehicles that were either completely new or recently re-launched. In the study, they monitored the 2010 model year and compared new or re-launched cars with carryover models. Carryover models had 17 more problems per 100 vehicles than the new models.

Among the car brands, Lexus performed the best, coming out as the most dependable on average, followed by Porsche, Lincoln, Toyota, and Mercedes-Benz. Buick, Honda, Acura, Ram, Suzuki, Mazda, and Chevrolet all managed to perform better than the industry average of 126 problems per 100 vehicles.

In response to the results, J.D. Power Vice President David Sargent praised the auto industry’s improved standards and encouraged consumers to consider new models, saying, “Consumers can buy a vehicle the first year it’s out on the market fairly safe in the knowledge that it’s going to be as dependable as a vehicle that had carried over from the previous year.”

Are you ready to get into a new or used vehicle? Approved Loan Store wants to help YOU! Good credit, bad credit, no credit, we will work with you to get you a car you want at terms you can afford! Get started today by filling out our secure online auto loan application here, and for more auto news and buying tips, connect with Approved Loan Store on Facebook, Twitter, and YouTube!

As lenders are getting more flexible with auto loan terms and approving more sub-prime auto loans, repossession rates are surprisingly dropping.

According to Experian Automotive, the repossession rate in the fourth quarter of last year dropped 28 percent. Though there was a slight increase in delinquencies during that same time, this statistic shows that car buyers are making their payments on time, even if they had subpar credit or no credit prior to getting the auto loan.

Hopefully the repossession rate will continue to drop. Many people with challenged credit are in need of another chance to rebuild their credit history, and one of the best ways to re-establish credit is with an auto loan. When lenders see that consumers are less likely to fall behind on their payments and go through repossession, they will be more willing to take a chance on someone with challenged credit.

Are you ready to get into a new or used car? Approved Loan Store wants to help YOU! Good credit, bad credit, no credit, we will work with you to get you a car you want at terms you can afford! Get started today by filling out our secure online auto loan application here, and for more auto news and buying tips, connect with Approved Loan Store on Facebook, Twitter, and YouTube!

Repeat business and brand loyalty is extremely important in any industry, but it is especially important in the auto industry. Bad customer feedback can sink a model and cost an automaker greatly. Fortunately, there are plenty of vehicles on the market today that have repeat business, and Consumer Reports has compiled the top 10 cars that have customers coming back for more.

According to Consumer Reports, consumers said they would be most likely to buy the following cars again:

With only a 5 point range between tenth and first place, competition was tough this year. There was a tie for ninth, seventh, fourth, and second places. All of these automakers should be proud of these numbers, especially that the top 5 were at 90 percent or above. These are customer satisfaction stats that every company dreams of and rarely achieve, so consumers that are in the market for a new car should consider taking at least one of these 10 vehicles for a test drive.

Car buyers in the New York City area should be more careful when searching for an auto loan. A new study shows they could be paying higher interest rates and loan payments than car buyers in other parts of the country.

According to Manilla.com, a personal finance/bill payment website, New York City is third in the country for highest average auto loan balances, fifth in the country for average loan payments, and fifth in the country for average loan APR. These statistics aren’t especially encouraging for car buyers in the New York City area, especially those who have no credit or poor credit and might need some flexibility with their auto loan terms.

This is exactly why Approved Loan Store exists. We help our customers find a car they want at terms they can afford, even if they have poor credit or no credit! Hundreds of people have discovered the Approved Loan Store difference and the easy 3-step process.

Step 1: Fill out our secure online auto loan application here. You will hear back in 24 to 48 hours!

Step 2: Set up at appointment at an Approved Loan Store location nearest to you.

When it comes to the Super Bowl commercials, the Budweiser Clydesdales usually reign supreme both with the quality of the ad and the popularity. This year, however, Budweiser was unseated by Ram Trucks’ dedication to the American farmer.

Ram’s “Farmer” is a take on Paul Harvey’s famous FFA speech “So God Made a Farmer.” The speech praises the farmer’s mix of strength, gentility, and perseverance, stating, “God said I need somebody strong enough to clear trees and heave bales, yet gentle enough to wean lambs and pigs and tend to pink combed pullets; who will stop his mower for an hour to splint the broken leg of a meadowlark.” The ad is accompanied by images of a church, an American flag, the family dog, and a farmer working hard in the fields with his trusty Ram truck by his side.

You can see the full ad here:

It didn’t have special effects, celebrities, or swimsuit models, and yet this simple ad made a definite impression on audiences, earning it over 13 million views on YouTube. The ad’s success has also benefited American farmers with Ram donating $1 million back to the National FFA Organization.

Readers, what do you think? Did Ram’s “Farmer” ad win you over? What were your favorite car ads of the Super Bowl? Leave a comment below, and let us know what you think!

Are you ready to get into a new or used car or truck? Approved Loan Store wants to help YOU! Good credit, bad credit, no credit, we will work with you to get the car you want at terms you can afford! Get started today by filling out our secure online auto application here, and connect with Approved Loan Store on Facebook, Twitter, and YouTube!

The Ram 1500 made headlines across the country this week when they announced that later this year, it will be getting a diesel option.

When it hits the market, the Ram 1500 will become the first modern half-ton pick-up in the United States to offer diesel. This is a major development considering that diesel trucks typically have a higher resale value than gasoline engine trucks, and they have more pulling power and a better fuel economy. With the diesel option, the Ram 1500 will have 240 horsepower and 420 pounds-feet of torque, making it more appealing to buyers who plan to use the truck in their business.

Automotive industry insiders are predicting that the diesel option could bring in tens of thousands in additional sales every year, and the CEO of Chrysler’s Ram brand Fred Diaz said in a phone interview that this is a change that Ram drivers have been “craving.”

Readers, we want to hear from you! Are you more or less likely to buy a Ram 1500 now that it has a diesel option? Leave a comment below, and let us know what you think!

Ford, Hyundai, and Kia have been accused of overstating the fuel economy of their vehicles. As a result, Hyundai and Kia have had to adjust the ratings on some of their 2011, 2012, and 2013 models, and the EPA has promised to be more vigilant in checking these fuel economy claims.

At first glance, it doesn’t look too good for automakers. They said that their vehicles could achieve a fuel economy when it turned out that they could not. The truth of the matter, however, is much more complicated. Weather can affect the mpg of hybrid and electric cars, and different drivers can achieve different fuel economies. These automakers weren’t necessarily misrepresenting their fuel economy to the public but rather the average consumer misunderstood the mpg rating and thought it was a guarantee.

Even with the rating adjustments, the fuel economy on new vehicles is better than ever, and with gas prices today, consumers can save a lot of money on gas by trading in their older, less fuel-efficient model for a newer vehicle. Approved Loan Store can help you whether if you’re going for a trade in or just looking for a good deal on a new or used car. Get started today by filling out our secure online auto loan application here.

The National Highway Traffic Safety Administration (NHTSA) has announced a recall on certain trucks and SUVs manufactured by Chrysler Group LLC from 2009 top 2012.

According to the report filed with the NHTSA, the issue is a rear axle pinion nut that if loosened can cause the axle to lock up, and the driver could lose control of the vehicle. Chrysler is contacting the owners of all affected models, and owners can get a pinion nut retainer installed free of charge at a Chrysler dealer.

Are you ready to get into a new car? Approved Loan Store wants to help YOU! Good credit, bad credit, no credit, we will work with you to get you a car you want at terms you can afford! Get started today by filling out our secure online auto loan application here!

Last week, we brought you a rundown of the cheapest cars of 2013 to show that new cars don’t have to been pricey. Today, we found out that another 2013 model is getting a huge price cut, and we wanted our readers to be the first to know!

According to reports from Motor Trend, GM has excess inventory of the 2013 Chevrolet Malibu, and they are eager to sell.

These models are discounted anywhere from $300 to $770, so car buyers can pick up a 2013 Chevy Malibu for as low as $22,805. GM isn’t the only one offering deep discounts on new models, though, and during the winter months, dealerships across the country are marking down lots of new and used models. If you missed our rundown of the cheapest 2013 models, check it out here.

As auto makers release their new models for 2013, car shoppers on a budget should be very pleased. Among the new 2013 models, there are a lot of great cars with top-of-the-line features now included with no extra cost. At the Approved Loan Store, we want you to get the best value for your dollar, so we’ve compiled a list of the least expensive 2013 vehicles and some of their standard features. These vehicles range in price from $12,780 up to $15,515.

Bottom line? If you thought you couldn’t afford a new car, you thought wrong.